Phosagro Said to Consider Paying $79 Million Additional Dividend

OAO Phosagro’s management proposed
paying as much as 2.5 billion rubles ($79 million) in additional
dividends for 2012, according to a person with knowledge of the
matter.

The board will consider management’s proposal to distribute
2 billion rubles to 2.5 billion rubles at a meeting tomorrow,
said the person, who asked not to be identified because the
information is private. Phosagro’s press service confirmed that
the board will discuss dividends, without elaborating.

“Phosagro is one of the most efficient fertilizer makers
globally,” Boris Krasnojenov, an analyst at Renaissance
Capital, said by phone. “It’s good that Phosagro pays large
dividends. It can afford to.”